Big gap from $474 to $499. A break of $474 will send this flying up the gap and potentially thru $500. We're going into lock down again, there's no way around it. ZM is a good hold until next summer in my opinion. The break above the resistance on 11/27 was confirmation to me that this is good for a swing! SHORT TERM PLAY : $500 Strike Dec 31 Exp Call COUPLE...
Breaking down my Zoom trade - Saw it was oversold - Sold a naked put - Legged into a vertical spread to reduce the margin requirement - Sold another naked put - Leaving the trade on over the weekeend.
Copyright Rohan Karunaratne 2020
ZM broke it's Symmetrical Triangle today and is pushing upwards before earnings Monday after market close. With being now 20% down from it's all time high of $588.84 there is room to run. Although with a PE Ratio above 500 it is overpriced and leading on momentum and our situation from Covid-19 and Politics. Look for major resistance at $500.
Unfilled gap below price Not all gaps fill but is something I like to be aware of. Gaps can provide support below and resistance when overhead Pattern is only valid after or at LE (long entry) level which is a break of the resistance of the flag's upper trendline Just an observation
ZM analysis using equal legs, fib levels, and trend-based fib time tool. 1.618 is the equal legs target of August 11th low and October 19th high, then a corrective move from the high to November 10th low. 1.618 target for late January. Invalidated on a break of 366. Long price targets in green. Experimenting with the fib time tool..
Narrow developing pivot range for December. Expecting out sized move. Price needs to hold above pmh & pml for bullish thesis.
ZM squeezing with earnings coming up. Im predicting a squeeze to the upside to at least the 480 level. With a great earning (which is expected) it could go even higher.
Big day for ZM today. It faces resistance from the all time high line set since 19 Oct. The line has been a resistance on 28 Oct and 6 Nov after which it dipped massively to retest 370s. If ZM can break out of the resistance today (mostly likely will need to be with a big gap opening) -- it's bullish until earnings. This is the likely scenario supported with...
Trade Thesis | Primary trend for Zoom continues to be bullish. Price bounced perfectly off the 100 MA following a needed correction from ATH of $590. Every major social media company saw strong QoQ growth in user bases. Expect a sharp rise in volume with the upcoming earnings 11/30. Expect strong growth in user base for July-September. (COVID summer meant you...
Zoom has been very low volume ever since all the vaccine news started coming out. They have earnings this Monday and if you recall last time, the earnings were exceptional. I believe earnings will still be exceptional but how will investors play this event with vaccine news & approvals coming out every week? I am still long on ZM but let me know what you think.